Prime Minister P.J. Patterson (right) speaks with the Minister of Finance and Planning, Dr. Omar Davies (left) and Shirley Tyndall, outgoing financial secretary. The occasion was a farewell function for Ms. Tyndall and fellow retiree, Rose Henry. The reception was held on the Jamaica House lawns, Hope Road, St. Andrew, on Wednesday. - WINSTON SILL/FREELANCE PHOTOGRAPHER
OPPOSITION SPOKESMAN on Finance, Audley Shaw, is again demanding that the Government explains what happened to $26.5 billion in proceeds from public instruments that Auditor-General Adrian Strachan was unable to account for in the Consolidated Fund last year.
"The concerns of the Auditor-General, which still remain unresolved, have grave implications for the manner in which the financial affairs of the country are being handled," Mr. Shaw said in a statement issued yesterday.
"The Minister of Finance (Dr. Omar Davies) has a constitutional duty and the fiduciary responsibility to make a full and transparent statement on this very serious issue," he added.
Mr. Shaw was reiterating concerns raised during his contribution to the 2005/2006 Budget Debate, in Parlia-ment last week, and which have been simmering since the Auditor-General's 2004 report was released earlier this year.
In his report, the Auditor-General stated that: "The audit was unable to verify receipt into the Consolidated Fund of approximately J$15.82 billion, and US$176.9 million, representing proceeds from financial instruments issued by the Government and which have formed part of the public debt".
NO ANSWER
But despite Mr. Shaw's requests for an explanation, and suggestions that the money may have been stolen, or at best mismanaged, the Finance Minister failed to provide an answer while closing the Budget Debate in Parliament on Wednesday.
Dr. Davies had, however, responded to the issue while speaking at a Leadership Forum at the University of the West Indies, Mona campus, last week.
Prompted by members of the audience, the Finance Minister indicated that a portion of the missing funds were related to the purchase of buses for the local transportation system.
